under the current law this is perfectly legal. our "money" power panel is back to discuss economist peter morici. jonathan hoenig from capitalist pig.com and ian shepherd son from pantheon macro advisors. guys, what do you think? this is serious idea out there being float the around. we have the peterson institute, they're a bunch of serious folks out there saying i like it. there is nothing obviously economic problematic bit. what do you think? peter, i let you go first. >> i'm surprised. there is a lot that problematic. it is equivalent of printing money. melissa: right. >> essentially that's all it is. basically make a coin. hand it to the federal reserve and turns around and put as trillion dollars in your bank account which you stt spending. a way around the debt ceiling problem. it gives barack obama the right to print money to spend as much as he wants to. melissa: there is one catch, ian. one point they make we're not printing it to spend money. we already spent this mon. it's gone. so we're just sort of fixing part of the